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Our Debt Consultants will be in touch with your quote as soon as they receive your submission.

Credit Card Consolidation and Consumer Rights

Credit card consolidation organizations are required by law to provide you with information on your credit consumer rights. You should only do business with organizations that comply with this law from the beginning. The main laws that credit consumers should know about are:

Credit Repair Organization Act (CROA) � this is the most important law for credit card consolidation
Fair Credit Reporting Act (FCRA)
Equal Credit Opportunity Act (ECOA)
Fair Debt Collection Practices Act (FDCPA)

Credit Repair Organization Act

The CROA is the law which requires credit card consolidation companies to provide clients with a copy of the document that details all your rights as a credit consumer. Make sure that organizations you deal with gives you this document at the beginning of the consultation process. The CROA was designed to protect consumers against scam operations that use questionable or illegal practices. According to the CROA, credit repair organizations should:

� Always provide consumers with a description of services offered including all costs. � Not charge upfront fees. The credit card consolidation organization is compensated after providing services. � Not ask clients to misrepresent their credit history, or ask them to create a new identity.

Fair Credit Reporting Act

Consumers have a right to obtain information on their credit history through the rights provided by the FCRA. The major consumer reporting agencies � Equifax, Experian and TransUnion � must provide you with a free copy of your credit report every 12 months if requested. You are also entitled to a free credit report whenever anyone has taken adverse action again you, e.g., refusing your employment or credit application, because of your credit history. In such instances, they must send you a report within 60 days giving information on the consumer reporting company involved. You also have the right to a free report on a yearly basis if you are unemployed and looking for a job; on welfare; or if your credit rating has been altered by fraud. Your credit record can have an impact on your ability to obtain credit card consolidation loans.

Other important laws

Your credit card consolidation company should provide you with any information requested that apply to your consumer rights. The ECOA, for example, prevents discrimination against consumers based on sex, race, marital status, religion, national origin, age, or receipt of public assistance. If you are on public assistance, organizations must treat this just as any other income. The FDCPA prevents debt collectors from taking any unfair or abusive actions against consumers in collection of their debts. For example, collectors cannot harass you, or misrepresent the law in attempting to make you pay your debts. They must also desist from contacting you, if you request them to do so in writing.

Credit card consolidation companies that adhere to the law will always provide you with a copy of your rights before any contracts are signed. To find out more about your credit card consolidation rights, please contact one of our consultants today.